The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-06-18
$4,OO0,OO0 INVOLVED.
THE BULLS AND BEARS STILL IN
THE PIT.

Quiet and a Better Feeling Prevailing
Suits Growing Out of the Wheat
Deals-Kershaw's Cautious Partner
1nvolved-What "Joe" Says.
CHICAGO, June IA quiet feeling pc
vailed during most of the morning session.
The operators were still somewhat reluc-
tant about taking any new speculation in
the way of settling up, or transferring old
business. An active shipping demand ex-
listed, orders coming from various points.
Some large purchases of cash wheat were
made, though there was some inclination to
keep the matter as quiet as possible. The
receipts continue quite large, but not to the
considerable extent comprised in loading be-
fore the break in the prices occurred here.
July wheat opened at 1884 M@4c Itdeclined
to 73@734c., at which figure it remained
pretty firm until about noon, when the
failure Of II. 2. Wadham g. Co was an
nOuuced.
The firm had a good many trades open.
probably 200, 600 or 800, 900 bushels a side,
and when the stuff came on the market it
broke prices and made the market weak for
the rest Of the forenoon. July declined to
re, and during the balance of the morning
session it did not get above 729lc Much
the same condition prevailed in the market
for the June wheat, as for the Jnly, it
opened at re, but declined TO 10&c. When
the break in the July occurred, prices were
a tr1tie tirmer on the afternoon session and
July closed at 7294c. and June at 7lc
For the first time in the history of the
road the Rock Island Railroad Company to-
day demanded a cash deposit to cover all
freight charges on grain shipments. The
roads action caused quite stir among the
shippers.
Corn ruled rather quiet during most of
the day, though at times there was moderate
trading The feeling early in the day was
quite firm under "A fair demand, the COM
mission men receiving a good many buying
orders on country account, and there being
a better demand from local speculators.
July opened at 371Sc., sold down to 3618c,
and closed at 371sc. There was only slight
speculative movement in oats, for the mar
ket failed to attract many spectators.
MARKET QUIET.
A quiet and rather easy feeling prevailed
in the provision market, and lower prices
were accepted The offerings were some
what larger ON behalf of the outside parties,
who desired to realize at the recent advance
While the demand was limited from all
sources, an undertone to the market indi-
Gated a weakness, with little inclination to
make special transactions Trading was
chiefly in contracts for July and August
delivery July short ribs opened at S747%
and closed at $685., the lowest figure of
closed at S0.9219, also the lowest figure of
the day.
BROKERS GROWING CAUTIOUS.
The brokers in the pit are careful to pick
men with whom they do business, and pay
1sc, and even nc more to get the names Of
rich and strong houses A member of one
of the clique firms, in conversation with
reporter, cleared up some of the secrets of
the attempted wheat corner. The clique
had about S4, 100000 of its own money here
with which to margin cash wheat and OPP
tions. There never was a moment up to
last Monday, when there was any hitch in
the monetary matters. The trouble arose
probably from the enormous arrivals of
cash wheat. 1t had not been anticipated
that the cash wheat receipts in June would
average more than 300 cars per day, or an
aggregate Of more tran 1900 for the month.
NO SENSATIONAL DEVELOPMENTS.
There were no newer sensational develop
ments in the affairs of the busted wheat
clique to-day. Kershaw has got no more
funds and will not get any more.
The affairs Of Kershaw d Co. are so des-
perate that Eggleston, whose liability as
general partner is claimed, is putting his
property out of his hands Cash wheat will
not come on the market, so that the panic is
over.
JOE ON THE GROUND.
Mr.. Joe Wiltshire got here Saturday and
an interview at the hotel was held between
Mr. Kershaw, Mr.. johnson, Of Rosenfeld 81
Co, and Mr.. Wiltshire and Mr.. Hoyt. 1t is
denied that there were any sensational de-
velopments at that meeting. Wiltshire now
claims that there was no such pressure as
Rosenfeld az Co. claim ON Tuesday morning
on the clique business, but that it came from
the holdings of Rosenfeld of taller wheat
Mr.. Joe Wiltshire, the clique representa-
tive, Is a good looking man Of a. years. dis
left eye is like Ben Buffers. For five
months Wiltshire was in Libby Prison and
was once drawn TO be shot. In quietly talk
ing over his troubles with his lawyer
Wednesday, he said that his forty-eight
hours experience at Chicago, he found, was
incomp0rably worse than anything he suf-
fered in the Libby prison. H. d. Wadhams
e. Co. have requested all their trades CLOSED
out Robert Linblom, this afternoon, Sc
cured an attachment against Mr.. Eggleston,
Mr.. Kershaw's backer Suit was entered
by Jones, Mccormack e. Kennel against
Maurice Rosenfeld 81 Co. and Byron J.
McCleary commenced attachment suit
against Rosenfeld for $4,000.
WORK FOR THE LAWYERS
The litigation over the remains of the
twenty suspended commission firms goes on,
and the deputy sherihs are seen flying
around the board c. B. Eggleton was seen
to-day, and he talked freely in reference to
the suit brought against him to make him a
general partner of G. j. Kershaw Il Co. He
said: 81 am a special partner in the firm Of
G. j. Kershaw a. Co. for $4,000. The only
business | have ever had with Mr.. Kershaw
began about May /, when he came to me
and wanted me TO carry some cash wheat
for him. About June / he came again and
| carried more cash wheat. When the
market broke ] called on him
for margins the same as | would
on any other house. My call was
for S400,000, and has never been met.
carried cash wheat simply as banker, and
was paid for it. 1t is true that am trans
fer1ing my property to prevent Kershaw
from attaching IL. Do you suppose | am
going 20 stand and have my property
attached for Kershaws debts when am
not responsiblel I don't know ny more
about his business than you do, and not half
as much as many men on the floor, for
seldom 10 there. That Is all there Is 70 1t.
BIo LOSSES FIGURED.
An evening paper says; "The principals
of the late wheat clique are estimated losers
TO the extent Of "a, 900 900 20 S6 100000. Their
followers and tools are losers TO fully the
same amount. II Is roughly calculated
that the collapse in Chicago represents about
$40. .OO0. 900 TO all concerned on the losing
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